Essay: Minimizing Risk in Hotel Management

Some of the most common risks that are faced by a company which is operating to management events pertain to the lack of available o the staff to run the event,, the security of the region when conducting the event, the nature of the country in which the event is taking place as it directly contributes towards the political stability of the region and the risks associated with the event.

Aside form this other risks that event management is exposed to is the threat of the customers not taking to the event and the event resulting in a complete failure, the risk provided in the market due to increased activity pertaining to events and event management of similar kind, as well as the risk of technical problems and affinity groups or the local protesting forums setting up a protests against the subject matter, the theme or the people attending the event. Therefore basically when planning for event and managing them the risks posed by the suppliers, the attendees, the local affinity groups, the local residents of the region as well as the technological, social, economic, political and legal issues that can give rise to risk pertaining the event and its success need to be accounted for and contingent strategies have to be redeveloped which can be executed in case of their occurrence.

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